The International Energy Agency (IEA) cuts its forecast for global oil demand growth to 910,000 b/d for 2024, citing the economic slowdown in China and an accelerated transition to alternative energy sources.
The International Energy Agency (IEA) cuts its forecast for global oil demand growth to 910,000 b/d for 2024, citing the economic slowdown in China and an accelerated transition to alternative energy sources.
ADNOC's Upper Zakum exports are falling, making it difficult to launch a futures contract for this medium-sulphur crude.
Liquidity and market challenges emerge as OPEC+ plans a quota increase.
ADNOC's Upper Zakum exports are falling, making it difficult to launch a futures contract for this medium-sulphur crude.
Liquidity and market challenges emerge as OPEC+ plans a quota increase.
Iraq, whose economy relies heavily on oil, anticipates budgetary difficulties in 2025 due to falling crude prices, according to an economic adviser to the Prime Minister.
Iraq, whose economy relies heavily on oil, anticipates budgetary difficulties in 2025 due to falling crude prices, according to an economic adviser to the Prime Minister.
Under pressure from falling prices, OPEC+ decided to extend the production cut by 2.2 million barrels per day until December 2024 to maintain market balance.
Under pressure from falling prices, OPEC+ decided to extend the production cut by 2.2 million barrels per day until December 2024 to maintain market balance.
A Greek tanker carrying Iraqi crude was severely hit by missiles fired by the Iranian-backed Houthis, highlighting the escalation of terrorist actions in the Red Sea.
A Greek tanker carrying Iraqi crude was severely hit by missiles fired by the Iranian-backed Houthis, highlighting the escalation of terrorist actions in the Red Sea.
In July, India became the biggest buyer of Russian oil, surpassing China, against a backdrop of Western sanctions against Moscow and changes in global trade flows.
In July, India became the biggest buyer of Russian oil, surpassing China, against a backdrop of Western sanctions against Moscow and changes in global trade flows.
Lebanon obtains crucial support from Iraq with an increase in heavy fuel oil deliveries to 125,000 tonnes in August, aimed at keeping its power plants operational in the midst of the crisis.
Lebanon obtains crucial support from Iraq with an increase in heavy fuel oil deliveries to 125,000 tonnes in August, aimed at keeping its power plants operational in the midst of the crisis.
